Infineon Technologies AG : Profit-taking probably a little too marked in light of momentum, low inventory levels and the group’s quality
>Outperform recommendation reiterated after yesterday’s profit-taking - Unsurprisingly enough, Q2 2020-21 results confirmed the excellent momentum of the automotive market, with an ATV division (45% of sales) once again reflecting sequential growth of 6% and a still very high operating margin of 16% (probably reflecting the fact that the declines in traditional prices in calendar Q1 were more limited than usual). We were a shade ahead of the consensus, with 2021 sale...Infineon Technologies is a semiconductor manufacturing company. The Automotive segment designs, develops, manufactures and markets semiconductors for use in automotive applications. The Industrial Power Control segment designs, develops, manufactures and markets semiconductors for the generation, transmission and economy in the use of electrical energy. The Power Management & Multimarket segment designs, develops, manufactures and markets semiconductors for power supplies, mobile devices and mobile phone network infrastructures. The Chip Card & Security segment designs, develops, manufactures and markets semiconductor-based security products for card applications and networked systems.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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